"central bank" can mean different things, we're formally on our third incarnation but we're really at least on on our fourth or fifth given that the Fed was centralized in a way that made it quite different in 1935 and then in the latter twentieth century with capital "G" Globalization and the radical changes to the US domestic banking and financial paradigm the Fed became so much more powerful and also changed behavior in ways so you could argue that we're on our fifth. Also, keeping things from getting "messy" was the part of the argument for creating the second bank but the 1819 happened on its watch and while it would have alleviated the circa 1840 situation it would have done so via bailing out a proto American oligarchy that was rapidly accumulating and centralizing power in the country just as it was getting off the ground. Also, we've had several bad acute financial situations since we created the Fed. And there are different alternatives that can be considered to perform the same function for every single aspect of what a central bank does
"central bank" can mean different things, we're formally on our third incarnation but we're really at least on on our fourth or fifth given that the Fed was centralized in a way that made it quite different in 1935 and then in the latter twentieth century with capital "G" Globalization and the radical changes to the US domestic banking and financial paradigm the Fed became so much more powerful and also changed behavior in ways so you could argue that we're on our fifth. Also, keeping things from getting "messy" was the part of the argument for creating the second bank but the 1819 happened on its watch and while it would have alleviated the circa 1840 situation it would have done so via bailing out a proto American oligarchy that was rapidly accumulating and centralizing power in the country just as it was getting off the ground. Also, we've had several bad acute financial situations since we created the Fed. And there are different alternatives that can be considered to perform the same function for every single aspect of what a central bank does
Thank you, saw the trailer, awesome, definitely worth it the full segment! Thank you, kudos!
Thanks Maverick - your flypath is inspiring!
Welcome, cheers for that :). Have a good Sunday!